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Monday, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
 After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global economic recovery in 2021 is expected to drive a short-lived rebound in coal demand following the major drop this year triggered by the Covid-19 crisis, according to a new report from the International Energy Agency.
However, there is little sign that the world’s coal consumption is set to decline substantially in the coming years, with rising demand in some Asian economies offsetting declines elsewhere. As coal is by far the single largest source of global energy-related carbon emissions, the trends outlined in the report pose a major challenge to efforts to put those emissions on a path compatible with reaching climate and sustainable energy goals.
The past two years have seen historic falls in global coal demand, led by unprecedented drops in the United States and Europe, says Coal 2020, the latest edition of the IEA’s annual market report on the sector. A 1.8% decline in coal demand in 2019 resulted mainly from weak growth in electricity demand and low natural gas prices. Latest estimates from the IEA suggest coal demand will have plunged by a further 5% in 2020 on the economic fallout from Covid-19.
“The Covid-19 crisis has completely reshaped global coal markets. Before the pandemic, we expected a small rebound in coal demand in 2020, but we have since witnessed the largest drop in coal consumption since the Second World War,” said Keisuke Sadamori, the IEA’s Director of Energy Markets and Security. “The decline would have been even steeper without the strong economic rebound in China – the world’s largest coal consumer – in the second half of the year.”
Based on the assumption of a recovery in the world economy, the IEA report forecasts a 2.6% rise in global coal demand in 2021, driven by higher electricity demand and industrial output. China, India and Southeast Asian economies account for most of the growth, although the United States and Europe may also both see their first increases in coal consumption in nearly a decade. However, global coal demand in 2021 is still forecast to remain below 2019 levels and could be even lower if the report’s assumptions for the economic recovery, electricity demand or natural gas prices are not met.
The rebound in coal demand in 2021 is set to be short-lived, with coal use forecast to flatten out by 2025 at around 7.4 billion tonnes. This would make 2013, when global coal demand reached 8 billion tonnes, coal’s all-time peak. But while coal’s share in both the electricity mix and the overall energy mix are in steady decline, coal use in absolute terms is not set for a rapid decline in the immediate future.
“Renewables are on track to surpass coal as the largest source of electricity in the world by 2025. And by that time, natural gas will likely have taken over coal as the second largest source of primary energy after oil,” said Mr Sadamori. “But with coal demand still expected to remain steady or to grow in key Asian economies, there is no sign that coal is going to fade away quickly.”
The future of coal will largely be decided in Asia. Today, China and India account for 65% of global coal demand. With Japan, Korea, Taiwan and Southeast Asia included, that share rises to 75%. China, which currently accounts for half of the world’s coal consumption, will be especially influential. By 2025, the European Union and United States will account for less than 10% of global coal demand, down from 37% in 2000. This will make the impacts of any further changes in demand in these markets very limited.
Source: IEA - Press Release
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Tuesday, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
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- Kobexindo Tractors - Indoneisa
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- Indo Tambangraya Megah - Indonesia
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- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
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- Posco Energy - South Korea
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- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Marubeni Corporation - India
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- Parliament of New Zealand
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- Petrochimia International Co. Ltd.- Taiwan
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Oil Corporation Limited
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- ASAPP Information Group - India
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- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
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- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
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- Sojitz Corporation - Japan
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- Parry Sugars Refinery, India
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- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
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- Cement Manufacturers Association - India
- ICICI Bank Limited - India
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- Chamber of Mines of South Africa
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- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Australian Coal Association
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- Mintek Dendrill Indonesia
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- Altura Mining Limited, Indonesia
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- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
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- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
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- CNBM International Corporation - China
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- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
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- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
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- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
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- India Bulls Power Limited - India
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- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
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- Mercuria Energy - Indonesia
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- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
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- London Commodity Brokers - England
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- Gujarat Mineral Development Corp Ltd - India
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- The University of Queensland
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- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
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- Electricity Authority, New Zealand
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- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
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